Logo of Phnom Penh Post newspaper Phnom Penh Post - Por Senchey devt’s prevent further land price drops



Por Senchey devt’s prevent further land price drops

Por Senchey devt’s prevent further land price drops

Por Senchey, the largest district of Phnom Penh that covers parts of the capital’s west and is home to 184,000 people, has seen considerable land price growth over the last three years.

Good coverage with the capital’s arterial roads, easy access to National Highway 4 and undeveloped space for urban expansion to house an increasing population, have made Por Senchey an attractive district for land investment and speculation in recent years.

According to the just-released VTrust Journal of Real Estate issue, land prices surged by 31 percent annually on average from Q3 2013 to Q3 2016.

The report, however, states that growth has been sluggish throughout 2016 because “overall [the real estate market] has cooled down steadily since late 2015.”

In fact, land prices in the area have decreased by 0.2 percent throughout 2016, however VTrust noted that the slight downtrend was not likely to continue.

“Fortunately, recent housing and plot land subdivision market stimuli practiced by many developers has been seen to bolster the market growth again … thus keeping real estate prices from [developing] negatively,” the report states.

Now that the purchased land will have to be developed, the report states there will only be a slight increase in land prices until 2018.

VTrust’s Hoem Seiha, the author of the report, said in an email to Post Property yesterday that as the general election in 2018 nears, international buyers are hesitant to further invest, which, according to Seiha, could potentially dampen price growth in Por Senchey. Nevertheless, he added: “The price growth will start markedly again by 2019 when the general situations eases [after the election].”

MOST VIEWED

  • Hong Kong firm done buying Coke Cambodia

    Swire Coca-Cola Ltd, a wholly-owned subsidiary of Hong Kong-listed Swire Pacific Ltd, on November 25 announced that it had completed the acquisition of The Coca-Cola Co’s bottling business in Cambodia, as part of its ambitions to expand into the Southeast Asian market. Swire Coca-Cola affirmed

  • Cambodia's Bokator now officially in World Heritage List

    UNESCO has officially inscribed Cambodia’s “Kun Lbokator”, commonly known as Bokator, on the World Heritage List, according to Minister of Culture and Fine Arts Phoeurng Sackona in her brief report to Prime Minister Hun Sen on the night of November 29. Her report, which was

  • NagaWorld union leader arrested at airport after Australia trip

    Chhim Sithar, head of the Labour Rights Supported Union of Khmer Employees at NagaWorld integrated casino resort, was arrested on November 26 at Phnom Penh International Airport and placed in pre-trial detention after returning from a 12-day trip to Australia. Phnom Penh Municipal Court Investigating Judge

  • Sub-Decree approves $30M for mine clearance

    The Cambodian government established the ‘Mine-Free Cambodia 2025 Foundation’, and released an initial budget of $30 million. Based on the progress of the foundation in 2023, 2024 and 2025, more funds will be added from the national budget and other sources. In a sub-decree signed by Prime Minister Hun Sen

  • Angkor Beer, 30 Years of Prestige and Still Counting

    Let’s celebrate 30 years of prestige with Angkor Beer. In this 2022, Angkor Beer is 30 years old and has been staying with Cambodian hearts in all circumstances. Head of core beer portfolio, EmYuthousaid, “We have been with Cambodians for three decades now. We, ANGKOR Beer, pride

  • Two senior GDP officials defect to CPP

    Two senior officials of the Grassroots Democratic Party (GDP) have asked to join the Cambodian People’s Party (CPP), after apparently failing to forge a political alliance in the run-up to the 2023 general election. Yang Saing Koma, chairman of the GDP board, and Lek Sothear,